The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have appointed Martyn Beauchamp as the permanent Chief Executive Officer (CEO) of the Financial Services Compensation Scheme (FSCS).

FSCS Appoints Permanent CEO After Interim

"FSCS puts customers back on track when their financial services firm fails, helping to build trust and stability in the UK financial services system and supporting long term sector growth. This is a mission I’m proud to now lead as FSCS’s CEO – and I look forward to working closely with the FSCS team, the financial services industry and our regulators to achieve it," Commenting on his appointment, Beauchamp said.

Beauchamp had been serving as interim CEO since October 2023. During this period, he managed the FSCS’s shift to a new operating model. Before joining the FSCS, Beauchamp spent over two decades in financial services. He held various CEO and executive roles at organizations such as GE Capital and Tesco Bank, working in regions including the UK, EU, Middle East, and Asia.

FSCS CEO Appointment Follows Recent Chair Selection

His appointment was confirmed by the Prudential Regulation Committee and the FCA Board, with the approval of the Treasury. Beauchamp assumes the permanent role of CEO and executive director of the FSCS Board immediately.

This appointment follows the recent appointment of Elizabeth Passey as chair of the FSCS board, effective 1 October 2024.

"Beauchamp is a highly experienced candidate and has already made a meaningful impact as the FSCS’s interim CEO. We are excited to continue working with him," Sam Woods, deputy governor of prudential regulation and CEO of the PRA, and Nikhil Rathi, Chief Executive of the FCA commented.